Dell’s moment of reckoning. The PC maker’s shareholders will vote on the $24.4 billion buyout offer by a group led by the company’s founder, Michael Dell. Or at least they are scheduled to—the initial vote was postponed last week, and the saga has had no shortage of last-minute twists.

Detroit bankruptcy hearing. The US federal judge overseeing the case will hold a hearing to determine whether lawsuits filed by retired public employees, workers and pension funds can block the biggest Chapter 9 municipal bankruptcy in US history.

Upbeat data from Europe, less so from China. Both Germany and France reported an unexpected expansion of manufacturing activity in July, boosting confidence in a recovery for the embattled euro zone. Chinese manufacturers didn’t do so well, as the sector slowed to an 11-month low in July, according to a preliminary survey from HSBC.

Demand for Japanese goods improved.Exports rose 7.4% last month from a year earlier, falling shy of estimates. A weakened yen and improved demand from the US and EU has helped sustain export growth, although Chinese demand is still tepid.

Christopher Mims on why the biggest opportunity in mobile right now is not smartphones. “Rather, the big play for some companies, especially any that wish to expand into emerging markets, is on the “dumbphones”—aka non-smartphones, or in industry parlance, feature phones—that most people in rich countries have now left behind.” Read more here.

Matters of debate

India really needs more foreign investment, even if it doesn’t think so. The retreat of some big name investors is a worrying sign.